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know where my money is, it's in all of the retailers here in the united states. but welcome to the "closing bell," everybody. i'm amanda drury. i'm standing in for maria bartiromo, where the dow, the s&p 500, both of them kicking off the year at 15-month highs. we'll have much more on the markets in just a moment's time. >>> first, though, our team is covering today's top stories. >> reporter: big pharma right out of the gate, but why did the stock of the company being bought take a tumble today? i'll have that story coming up. >> reporter: gives a cautious outlook on the u.s. economy and gives thanks to u.s. taxpayers. >> reporter: cable broadcasters and programmers are fighting over how much content is worth. time warner cable and noose corp may have worked out a deal but cablevision and scrips are still battling it out with hdtv and food network at stage. >> okay take a look at how we finished the day on the wall street, the final numbers, if my eyes don't servely bad low the dow is hitting 10583 with the gain of 1.5%. the nasdaq at 1.7% to the upside, 2308 is the score.
of the united states. crude oil closing below $81 a barrel. coming up, the outlook for the biotech interest with an exclusive interview with gilead ceo john martin. and hyatt hotels executive tom prisker on the state of the travel and leisure industry. the dow jones industrial average on the down side by 37 points, well off the lows of the afternoon to close down 0.3%. s&p down 10 points, 1136. nasdaq lost better than 1% to finished at 2282. more action from scott whopner. >> you could point to a number of different stories. add them together and the markets are under pressure today. started after the closie ining yesterday after the disappointing results from alcoa. material stocks under pressure throughout the day. i'm not just talking about aluminum stocks but steel and mining stocks under pressure as well. you see that move to the downside. down 11% for alcoa. look at the material stocks as well. the weakest performers in the market, you saw names like aluminum corp of china, nucor and freeport-mcmoran. sharply lower because of refining margins, exxonmobil, total and petrobras down. oil
going to haiti on saturday, is there -- what role should the united states, or could the united states play in helping the country's restructure politically and economically, or can the united states help in that? >> i think actually, only the united states can really do that. this is such a massive effort. obviously on the front end here, this is a humanitarian effort on a huge scale. and the coordination effort for that -- for humanitarian assistance will have to be led by the united states and the u.s. military as i think secretary clinton and i know that the obama administration is focused on. long term for economic development they will have to play the same role. i don't believe that?xmoney, yo know, that financial systems, and certainly we should you know try to get as much as we can, and i know that the haitians will be grateful for all of the financial assistance they get, but i don't think that will be the key. i think the key will be coordinating partnerships, both among the donors and with the haitian government. and i know that the people in the obama administration are tr
. but overall, still tough in the united states and europe. and the same situation with the united technology, china's resumed growth in both businesses. developed world still weak. boeing, an impressive quarter. very solid commercial revenues. people like that and although early ork the outlook was viewed as a bit disappointing. traders turned that around fairly quickly. melissa, back to you. >> all right, thanks so much. >>> and all of that, the dow and the s&p and the nasdaq all ended the day in positive territory. let's go to matt nesto. he's got some breaking news on qualcomm. matt, what do you. >> reporter: yeah the biggest company reporting in the after-hours about an $80 billion market cap and now 4%, 5% lower after coming in way first quarter earnings per share that was fine, 62 cents versus a 56 estimatep. revenue was light though. and that's beginning of the problems, folks. they reduced their second quarter and full-year estimates at $49 to $53 is what they see for the second quarter. that is at least four cents lower than a 57 estimate and their revenues look light as well in the
the united states and then that they were recruiting operatives to do so. the intelligence community did not aggressively follow-up on and prioritize particular streams of intelligence related to a possible attack against the homeland. second, this contributed to a larger failure of analysis. a failure to connect the dots of intelligence that existed across our intelligence community and which, together, could have revealed that abdulmutallab was planning an attack. third, this, in turn, fed into shortcomings in the watch-list system in resulted in this person not placed on the no-fly list, thereby, allowing him to board that plane in amsterdam for detroit. in sum, the u.s. government had the information scattered throughout the system to potentially uncover this plot and disrupt the attack. rather than a failure to collect or share intelligence, this was a failure to connect and understand the intelligence that we already had. and that's why we took swift action in the immediate days following christmas, including reviewing and updating the terrorist watch list system, and adding more i
airports in dealing with passengers on flights coming to the united states. we've seen some of that out of the news today already. i think the main point of the president's statement today is to out talking about this issue and getting the message straight on this so that they project that action is taking place and the president takes the issue seriously. >> that is a prescient point. the president and his team have been attacked in recent days on perhaps not being hard enough on the issue of security. what exactly are you hearing on the ground about that? >> mandy, i think the point here as tony alluded to, is to project an image of toughness and accountability for this president. this president came into 2010 with a whole plateful of political problems. the last thing he needs extends debate on surt and questions in the mind of voters playly getting ready for the elections. the steps have largely been taken. he will talk about what he heard in the meeting with advisers and cabinet members. it is saying he is sternly in charge of the situation. >> tony, even if he comes out with a lis
investment deals in infrastructure. in california, the united states, and in the developed markets around the world. infrastructure provides a lot of interesting opportunity, steady and inflation-protected return that will generate -- generate reasonable and safe returns over the long haul. look, we're, as you said, we're in the market all the time. our equity view is, the markets are going to continue to move up. but they're not going to go up as well as they did in 2009. we're overweight equity. maintain that position for a while. very interested in the developing and emerging markets in terms of the growth potential there. obviously a great year in 2009 but we still see further, better growth in those markets. in fixed income, we like corporates. treasuries for a while, and although things will turn when rates start to move up, whenever the fed takes that action. and in private equity, we're looking to put more money to work this year. something in the order of $3 billion in new investments, into private equity. and finally with respect to real estate, this has been really tough for us
's right about where it was at the start of the crisis two years ago. moreover, the united states is still running very large trade deficits. if anything the dollar is still a bit overvalued with respect to the euro and the other key currencies. so it's simply fatuous on the part of sarkozy and others to say the dollar is weak. if there is any disequilibrium. and the chinese, themselves too weak and the dollar itself overvalued. >> would ahgree with that, that the dollar is overvalued against some of the currencies just mentioned? >> yeah i would agree actually with what fred said in terms of characterizing the dollar in general. looking overvalued in relation to the likes of the chinese renminbi. some other european currencies. it's not a huge surprise of course to see the likes of french politicians talking about the dollar being too weak. this is really nothing new. there's a perception that mercantilist policies are sometimes pursued in the u.s. but as fred rightly points out, the -- u.s. are not exactly great. that would in fact justify a weak dollar. >> indeed. a weak dollar is one t
for firms to retain talent or cause these firms to flee the united states? here's representative frank. >> i want to look at compensation. now in the broader -- in the broadest context. it's a national competition. whether or not you're going to have people going into different industries, whether or not if this is a strength on somewhat of what they do, if that is a bad thing. you know i continue to wonder what it is about the character of the people in that industry that says if they're being paid large amounts of money and need to get extra bonus jes frank said no one is talking about comping pay and also acknowledge the that the government is limited in what it can do in this area. speaking of compensation, some details emerging today about what bank of america's employees can expect at bonus time. a source close to the bank confirming reports the up-front cash portion of the bonuses -- of the bonuses for junior bankers will be doubt an average of 25%. for senior bankers 5% to 15% of their bonus total. well below the 50% in cash for most of the banks employees received as part of last ye
strengths of the united states. >> particularly in germany, obviously we're still seeing that invasinovation coming quit quite strong. tell me what your thoughts has been on the stimulus packages that we've seen. have they been effective? >> we wish them to be even more effective. many of the promised numbers are still to come as we're looking forward to make a meaningful contribution. we've seen some very exciting packages being rolled out, like the renewables package in the united states. and we continue to look forward to making a meaningful contribution. >> what are the risks to the business in 2010 right now? so many people worry about a whole host of things, whether it's taxes or you know the regulatory changes coming out. what do you think are the most important risks facing siemens in 2010? >> as far as 2010 is correspond, we need to manage through our typical late-cycle business. so we expect that 2010 to be the trough for our company. and need to make sure that we're getting really, really ready for 2011 and 2012 when the company and the business will recover again. >> so the late-
've rethought everything here in the united states about our financial system and our political system. are we going to move on here show you -- show you how we finished the day on wall street? it was a pretty tough session throughout. the dow jones industrial average lower by 115 points, 10120. off of the lows of the session but certainly off of the highs as well. the nasdaq got slapped around as well, lower by 2%, down 42 points, 2179. and the s&p 500 was lower by about 13 points. that's a decline of more than 1%. 1084. a lot of technicians very focused on the 1085 level. and if we broke through that and did not hold that could lead to even further selling. we'll discuss that throughout the program here. >>> other news that we're waiting for, and microsoft earnings are just moments away. we're going to get a preview of what to expect with our very own jim goldman and also jane wells and also joined by walter price, he manage -- and president and founder of endpoint technologies. jim goldman ustart it off. what we are expecting here. >> reporter: yeah the headline numbers, they're
rates? for example, the united states. are you expecting bernanke to move on rates in 2010? >> i think they will withdraw stimulus gradually and at some point reach the interest rate, probably sometime this year. it's always dangerous to forecast what our colleagues are going to do. >> reporter: a lot of people worry in the u.s. about the exit strategy and how tough or easy it will be to unwind the programs once they have begun. are you concerned about that a? >> it's not technically difficu difficult. they bought assets. they have to sell assets to take liquidity out of the system. you're sort of running on the edge of the fact that it's a fairly delicate recovery. may still be fragile. you don't want to take the stimulus away toooon.s on the other hand, there is all the fear that asset prices are rising too fast. so they're going to have to come to some balance. but that's what monetary policy is always about. so you have to rely on them to get the balance about right. i have a lot of confidence in the fed. >> reporter: you have been asked to serve a second term. your term comes to a
's interesting to invest money. the two principle areas now are in the united states, canada, north america and in asia. so both of those areas present a lot of very interesting opportunities. >> and when you're looking -- when you're on the ground in asia, where do you see the most vibrancy? we talk about china so much and some people question whether or not we can believe those number, 10.7 economic growth. is that what you are seeing when you are on the ground in china and is asia that you are looking. >> there are many places in asia. i think that's a limited approach. for example, we like india a lot. we've owned -- we own approximately eight companies now and right you in the middle buying two more. the indian growth story is really, really strong. china, of course, is really sort of on fire now. it's strong but it's got a lot of stimulus that's creating that strength but people are very aggressive, intelligent and it's clear that the leadership of the country is going to try and keep that growth rate at least in the 8% to 10% year-end. >> reporter: you say that the leverage is increa
out a lot of things quickly to create certainty for businesses in the united states. >> yeah. >> the tax code is a big one. you know figuring out what to do with tax extenders, death tax, i mean you can kind of go on down the list. get more information not necessarily on wednesday with the state of the union but when obama releases his budget in february and then we'll know what his plans are effort from of the year and that'll be very helpful. >> guys, thanks so much. we have on run. >> you bet. >>> up next, tell you why one autopartsmaker is one of the top performing stocks in the s&p 500. tdd# 1-800-345-2550 investors got lost in the shuffle. tdd# 1-800-345-2550 investment firms forgot whose money it is. tdd# 1-800-345-2550 enough is enough. tdd# 1-800-345-2550 it's time investors got what they deserve. tdd# 1-800-345-2550 real help that's there when you need it. tdd# 1-800-345-2550 pricing that leaves you with something to actually invest. tdd# 1-800-345-2550 at schwab, we offer a lot more help for a lot less money. tdd# 1-800-345-2550 because at schwab... tdd# 1-800-345-
of homeland security here in the united states is saying in effect that the move across the atlantic by the british is raising the level to the level that really obtains here in the united states and has since the u.s. raised its airport security level last week, a couple of weeks ago in response to that attempted bombing on christmas eve of the airliner as it landed in detroit. and so the u.s. clearly not indicating that they are inclined to raise the terror alert level here any, but that the uk is in effect catching up with the situation here in the u.s. now let's change gears, sharp right turn to the ak filing by morgan stanley confirming that ceo john mack has recommended he received no bonus for 2009. mr. gorman has recommended he get no cash bonus and that any 2009 bonus will be in deferred compensation and that 75% of the operating committee members will get their year-end pay whatever it happens to be as deferred comp. back to you. >> thanks very much. rich peterson tells me that this week we saw a deterioration of $400 billion in market value. that is up in smoke on the heel
of the united states and to europe. >> maria, an interesting point. change in strategy or tactic of how the administration is making -- or doing banking reform. they put out a white paper in june, it went into the house, it went into the senate. they were letting that process play itself out and now all of a sudden kind of stepping in front of the process and try to get going on these other ideas. i would say that having to try to sort of work all day, maria, find the details behind this proposal, there are precious few right now. >> yeah. >> reporter: and trying to understand what the administration, it seems like this -- whatever decision they had may be come to for good reasons, they rushed out for political reasons. >> yeah, well maybe they rushed out for political reasons just on the reasoning that jarrett just mentioned to put some noise out there on the heels of the discussion that health care bill might be dead, or certainly severely impaired. let me ask you for solutions and sort of alternatives to what we're hearing right now. i mean, fred, there's no doubt that there is a wor
Search Results 0 to 15 of about 16